News
The Impact of Fuel Price Hike on Private Car Owners in Nigeria
In recent weeks, the economic landscape of Nigeria has been further strained by the removal of fuel subsidies and the subsequent increase in the price of Premium Motor Spirit (petrol). The Nigerian National Petroleum Company Limited (NNPCL) lifted petrol prices from N897 to N1,030 per litre, significantly intensifying financial challenges for citizens already grappling with a high cost of living.
This latest price hike is poised to escalate poverty levels across the nation, as experts warn of its potential to push more individuals into financial distress. With fuel prices surging by an average of 174.6 percent, the ramifications of this decision are felt throughout various sectors of the economy. The removal of subsidies, coupled with currency depreciation, has contributed to a skyward trajectory in the prices of goods and services.
Data from the National Bureau of Statistics highlights the gravity of the situation, revealing that Nigeria’s inflation rate soared to 33.95 percent, with core contributors including transportation and fuel costs. Daily necessities have become increasingly unaffordable, with reports indicating soaring prices for staple items such as rice, which now exceeds N100,000 per bag.
In response to these economic pressures, many private car owners are resorting to converting their vehicles into commercial services. This practice allows them to offset rising fuel costs by charging passengers for transportation, thereby recouping some of their expenses. For instance, Akinolu Olu, a resident of Lugbe who commutes to work in Utako, Abuja, shared how he now charges his neighbors for rides—a stark contrast to his previous practice of offering free transport.
“Before the fuel subsidy removal, I used to transport four of my neighbors without charging them. However, since the price increased, I now charge N700 per person for each trip,” Olu explained.
As this trend of informal commercial driving continues to gain traction, it underscores the urgent need for government intervention to alleviate the financial strain on households. Citizens and economists alike are calling for measures to mitigate the economic hardships that have become all too commonplace in Nigeria, emphasizing the importance of addressing the escalating cost of living crisis.
The Federal Government has declared a state of emergency on the construction of the Suleja-Minna road. Minister of Works, David Umahi, announced the declaration on Saturday following an inspection of the road. He stated that the project, initially awarded to Salini Nigeria Limited, had been poorly executed or abandoned.
Umahi explained that despite repeated attempts to have Salini repair the road over the past year and a half, progress had been unsatisfactory. Niger Governor Mohammed Bago raised concerns with President Bola Tinubu, prompting the Ministry of Works to intervene. The road, described as being “in a very terrible situation delaying travel time by seven hours instead of an hour and half hours and vehicles are falling and killing people,” has been designated an emergency project.
The contract with Salini has been irrevocably terminated due to substandard work. Umahi has directed his ministry to recover funds owed by Salini, potentially involving the Economic and Financial Crimes Commission (EFCC). Two contractors are now engaged in the project. CCCC International Engineering Nigeria Ltd. has been contracted to handle part of the road, with 60km already completed under the Governor’s urban renewal agenda. CCCC has been given 10 days to mobilize and commence work on a critical 7km stretch. Umahi emphasized that work will begin immediately under emergency procurement guidelines, with pricing to be verified subsequently.
The Nigerian film industry is in mourning following the death of Kayode Peters, a renowned filmmaker and producer. The news was announced by his family on his official Instagram page, stating that he passed away peacefully on the morning of Saturday, June 28, 2025, in Toronto, Canada, after a long illness.
Peters, fondly known as KP, was celebrated for his contributions as a filmmaker, actor, and producer. He was known for his role as Koko in the popular sitcoms “Twilight Zone” and “Flatmates” in the early 2000s. His work also extended to stage plays and sitcoms like “Extended Family” and “Being Farouk,” significantly impacting Nigeria’s contemporary theatre and television landscape.
He is survived by his wife, Alexander, and their children. Funeral arrangements are underway, and further details will be shared by the family in due course. The industry and fans alike will deeply miss his warmth, generosity, and contributions to Nollywood.
President Bola Tinubu arrived in Vieux Fort, Saint Lucia, on Saturday, marking the commencement of a two-nation tour encompassing the Caribbean and South America. Upon arrival at Hewanorra International Airport, he was received with full military honors by Governor-General Errol Melchiades Charles and Prime Minister Philip J. Pierre.
The President’s itinerary includes courtesy visits to the Governor-General and Prime Minister, followed by an address to a joint session of the Senate and the House of Assembly of Saint Lucia. Discussions will focus on deepening cooperation between Nigeria and the Organisation of Eastern Caribbean States (OECS), with emphasis on economic partnerships and cultural solidarity. A visit to the Sir Arthur Lewis Community College is also planned to strengthen educational ties.
Following his engagements in Saint Lucia, President Tinubu will proceed to Brazil to participate in the 2025 BRICS Summit in Rio de Janeiro, attending at the invitation of President Luiz Inácio Lula da Silva of Brazil. Nigeria’s participation as a ‘partner country’ underscores its commitment to strengthening diplomatic and economic relations on a global scale.
Federal Government Declares State of Emergency on Suleja-Minna Road.
Nollywood Mourns the Loss of Kayode Peters.
